Oman economy

Oman economic indicators at a glance

Oman nominal GDP

Oman GDP per capita

Oman’s economy has fluctuated, with GDP per capita and nominal GDP dipping in 2020 and 2023. Only small changes are forecast for the next few years.

Oman GDP growth

Oman’s non-oil and oil GDP growth stood at roughly 8 percent in 2022, but both indicators were below 2 percent the following year.

Oman oil breakeven prices

Oman’s oil breakeven price has fallen since 2021. It is predicted to increase slightly in 2025 and then dip again.

Oman inflation

Oman’s consumer price index has steadied since inflation reached 2.5 percent in 2022. Smaller increases are forecast up to 2027.

Oman debt & current account balance

Government gross debt as a percentage of Oman’s GDP is generally decreasing and Oman’s current account balance was in positive territory in 2022, 2023 and 2024. It is forecast to return to positive territory in 2027.

Oman trade

Oman’s top 10 trade partners

Oman’s trade has been volatile, but is now expected to keep growing until 2027. Oman’s top exports include mineral fuels and plastics, while its top imports include machinery, nuclear reactors and vehicles.

Oman foreign direct investment

Inward foreign direct investment into Oman came close to $9 billion in 2021 before tumbling to roughly half that figure two years later. In 2024, inward FDI topped $8 billion again. Oman’s outward FDI has also fluctuated but remains low.

Oman credit ratings

Oman’s credit rating was upped to investment grade by S&P Global in September 2024, Moody’s in July 2025 and Fitch at the end of 2025.

Oman governance

Oman’s Corruption Perceptions Index score rose by 12 points in 2024 but lost some of that gain in 2025. Its 2023 score of 43 was its lowest for a decade. Its 2025 score of 52 is 10 points above the global average.

Oman population

Oman life expectancy

Oman’s population rate has fluctuated but is slowly increasing again. In 2024 a quarter of its population – about 1.3 million people – was aged under 15.

Life expectancy in Oman plummeted after 2019, reaching its lowest point in 2021 before climbing again. It now sits at 80, which is the average for high-income countries.

Oman employment

Oman’s unemployment rate has also been volatile, but now appears to have steadied at about 3.2 percent. Youth unemployment is higher at roughly 14 percent.

Expats in Oman

Oman expats’ country of origin

Oman's expat population has increased from one quarter of the total population three decades ago to almost half in the UN's latest research. More than two thirds of Oman's expats are from India or Bangladesh.

More economic indicators

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All GCC countries

The charts and tables on this page are for general information purposes only. AGBI aims to keep the information up-to-date and correct, but makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information. Any reliance you place on such information is therefore strictly at your own risk. All IMF, World Bank and United Nations data on this page is publicly available. The latest IMF World Economic Outlook was published on October 14, 2025